Santander has rekindled talks on selling its 32 per cent stake in oil group Cepsa in what could lead to the divestment of the Spanish bank’s last remaining equity holding of importance.
The bank, the eurozone’s biggest by market capitalisation, told the Spanish stock market regulator on Wednesday that it was “in negotiations” over its holding in Cepsa, in which Total, the French oil major, controls nearly 49 per cent. However, it said no agreement had been reached.
It is understood that the International Petroleum Investment Company (IPIC), of Abu Dhabi, which already holds 9.5 per cent of Cepsa, heads the list of potential buyers.
No comments:
Post a Comment